Wednesday, February 24, 2010

Action Comics #1 sells for one million dollars!

In the midst of a recession, the chance to own a piece of comic history has seen a record US$1,000,000 paid for a copy of Action Comics #1. Within the pages, of a title non-comic lovers may not recognise, the first story of Superman comes to life. That 1938 story changed comics forever by creating the Superhero genre.

The 8.0 graded copy that sold this week was from a private collection and, as it has been purchased for another private collection, the New York City showroom of ComicConnect.com at 873 Broadway, Suite 201 (212-895-3999) will allow media outlets to view the book briefly before it heads to its new home.

The former owner of the one million dollar comic has made a very nice profit after investing in the original purchase fifteen years ago for a mere $150,000. The previous record for a comic was for a 6.0 graded copy of Action Comics #1 for $317,200 in 2009.

There are approximately 100 copies of Action Comics #1 still in existence, and the one that sold for one million dollars is the second highest graded Action Comics #1 to have been graded. There is a copy that has been graded at 8.5 out in a collection somewhere, and now it will be very interesting to see what it goes for should it ever reach auction.

All eyes are now looking to see if the record could be short-lived as Heritage Collectibles, another auction house, currently has an 8.0 graded copy of Detective Comics #27 available. Detective Comics #27 features the first appearance of Batman. The issue currently on offer is one of two copies graded an unrestored 8.0, with no other Detective #27 on record having received a higher grade from the CGC. To date, Detective Comics #27 tends to sell at approximately 25% less than an equal graded Action Comics #1, but everyone is waiting to see what will happen in the wake of this new record.